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Cable Update (GBPUSD)

  • #127,361
  • Mar 19, 2009 4:41pm Mar 19, 2009 4:41pm
Quoting allserene
yeah keep it running -a trill here or there is nothing for america but the UK sounds a real mess
That has to reflect in the rate at some stage
I got caught by the updraught with a small position - but I am reeling it back at the mo
being careful - but the fundies have to be against GBP
Al,

I couldn't hang, and taking profit to help w/my consistency was a must.
-You know i think eventually you're right. -But taking a look at my charts,
buddy what i think i'd see or "envision" would be a continued drawback 1st,
then a third push back up, then some definite downward pullback of profits.
-Of Course, 'could all be wrong though too! ! !

We'll see... 'Chisel it up / 'Chisel it down.

Enjoy,
Getting My Chic-Fil-A on, !

Have a Great One, Jeff !
I will work to Objectively Identify my Edges
  • #127,362
  • Mar 19, 2009 4:46pm Mar 19, 2009 4:46pm
YEAH BABY!
'TERP's Beat CAL... Ooo-Rah!

Sorry Cal Fan's... No offense intended,
It was just a great game to hear,
even if 'on the radio!

-Loved also DUKIE's Coach "K" schooling brother Obama,
on the "He Outta be working on the... ECONOMY"! !

Finally, something 'could agree w/Duke on!
Sorry to Gloat!

-'Check Back in Later, Jeff !
I will work to Objectively Identify my Edges
  • #127,363
  • Mar 19, 2009 4:51pm Mar 19, 2009 4:51pm
Quoting allserene
yes cnbc were saying that banking stocks were up 55% in the last x weeks

and they were saying sell !

dont often hear them saying that

i dumped a huge wad of shares (no banking in my portfolio)

buy em back again in a week or two

anything with more than 15% to 20% rise in a week gets sold
I know it was quite amazing, i was scratching my head and wondering how come all the major UK banks were gaining so much ground. they've obviously got rock bottom confidence in our banking sector still.

Very nice best of luck with the shares, will be interested to know how you get on .
"The trend is your friend, until the end."
  • #127,364
  • Mar 19, 2009 5:18pm Mar 19, 2009 5:18pm
Quoting TerpFan2
Al,

I couldn't hang, and taking profit to help w/my consistency was a must.
-You know i think eventually you're right. -But taking a look at my charts,
buddy what i think i'd see or "envision" would be a continued drawback 1st,
then a third push back up, then some definite downward pullback of profits.
-Of Course, 'could all be wrong though too! ! !

We'll see... 'Chisel it up / 'Chisel it down.

Enjoy,
Getting My Chic-Fil-A on, !

Have a Great One, Jeff !
yes an updraft like that doesn't fizzle all that fast - the voices must be referring to a week or two from now !

Got tooth ache and a short position - bummer

Dentist's assistant asked where I was from - I said, well I was born with the same nationality as George Washington and president Obama's dad

she thinks I am african- american I think

what a hoot
  • #127,365
  • Mar 19, 2009 5:50pm Mar 19, 2009 5:50pm
Quoting allserene
yes an updraft like that doesn't fizzle all that fast - the voices must be referring to a week or two from now !

Got tooth ache and a short position - bummer
Dentist's assistant asked where I was from - I said, well I was born with the same nationality as George Washington and president Obama's dad

she thinks I am african- american I think
what a hoot
Ahh Yes, you got me rollin here on 'way home here w/the aircard,
in traffic -BRO'!

-I think yo' prayer, my 'Brother, may be...
Brother Obama, giving you some... "DollA,"
-strength, after he get's done w/the 'Lenno' Show Tonight! !-!!!

Boy, what a hope, to hope on! ! -If it works, who cares!!!

Jeff
I will work to Objectively Identify my Edges
  • #127,366
  • Mar 19, 2009 6:08pm Mar 19, 2009 6:08pm
Hi abuawad are you still holding on to your short positions?
  • #127,367
  • Mar 19, 2009 7:25pm Mar 19, 2009 7:25pm
Lesson Learned - Managed Account Abu Awaad (Please comment on this trading)

Dear FF member,

I am opening this thread not to complainin nor to bring Abu Awaad down. I respected him as
a trader & Still do today but here are a few points to think about b4 you decide to invest serious money.
I have been a long time follower of the great Cable Update(GBP/USD) thread. And like all people active on
that thread read about Abu Awaad Analysis.I was impressed mind you his analysis i believe is right on the
money. N e ways so i decided to inquire about his Managed account.He advice me to open with a min 10K account.
As i did not have much experience about his trading style i told him i will start with 5K and add on as i feel
confortable. As excited i was opened an account with FXCM. My account lasted a full 48 Hours. Here is my Story

My first trade was placed on the cable a beautiful sell
@ 1.4051 Lot size 0.5 SL NONE! TP 1.3650
ok it was a beautiful entry i couldnt have asked better to start my journey.At a point i was in profit
of 200 pips..to my suprise no profit taking was done.His plan was to TP at 1.3650.I did not complaining
since he is the managing the trade didnt want to offend him. For those who know what happened on march 18 2:15 PM
eastern there was a big news annoucement.This was the last time i smile on this journey. Profit around 60 pips
juz b4 the news. No SL was placed i was looking at my account unable to do nothin. Yes to cut the story short.
from a winning 1000 trade. It was closed at -1400 $ .
My questions asked to Abu.
Why no partial TP . Close half maybe???? and move SL to BE ..no answer
Why no SL . Said he was testing a new strategy??? on my hard earned money??? what about demo?
And told me dont worry i will go back to my old ways.
To my suprise he opened a sell at the top
@ 1.4322 Lot Size 0.1 closed @ 21 pips profit
mY ACCOUNT NOW STANDING AT ABOUT 3615.00 $
OPENS A buy
@ 1.4287 lOT sIZE 0.4 !!! EVEN AFTER TELLIN ME HE WILL DO 3% OF THE ACCOUNT.
NO sl IN PLACE!!! I email him and he says dont worry....He closed -61 pips!!! -278$
My longest night of stress...
in the morning he opens a SELL @
@ 1.4475 TP ??? SL ?? NOne again ... And LOT 0.5 on a account now down to 3400$!!
Result after looking at a loss of another -570$ i call to cancel with FXCM ASAP. While talking
to the dealing desk ..i had juz finished closing the order that Abu now decides to BUY
0.2 Lots @ 1.4578 wich i closed right away again.

Please tell me...I did not expect my account to managed this way...What are your opinion because this is the response
i got from Abu :
you running from the first day. i'm sorry that your luck is bad with me for the first day. but thats what happen for you and other clients for me.
same my personal account,
anyway one day is not the key to say something about my trading. you ask for History trading and you see the performance.
sorry again...
Nizar.
To wich my reply :
I am sorry but I could not blame it on luck forex is not luck ...Did I learn a lesson or what first rule is money management its not luck that wipes 50 percent almost of an account in 48 hours . I was a fool to let you continue after the first trade that was greed on ure behalf u were making 200 pips never took profit nor partial and to top it no SL and we went from possible 1000 to -1400.I feel like you scammed me with fxcm because my luck has nothin to do about my account half gone in 2 days.they say never let a winner become a looser I didn't open with u with greed to be a millionaire. But it sure seemed u want to be one on my expense I am truly shocked I feel like the person on forexfactory is not the one who traded my account. Where were ure stop loss???I have no words to describe it. Its a lesson learned a hard way and not that it matters to u but my hard earnd money wasn't there to test a new system.. there are demo accounts for that. I tell myself this wasn't traded by abu awaad its not possible. Have a good day

I Dont want to ruin his business this is my story sure i only lasted 48 hours...Can you blame me
Out of the many rules broken
- Money Management
- SL
- Never let a winner turn into a looser...
I lost practicaly 50% of the account in 48 hours. So please Think twice and know what ure getting
into.

From 5K to 2.6K
  • #127,368
  • Mar 19, 2009 7:39pm Mar 19, 2009 7:39pm
you should better try fapturbo
ROBOT FOREX
  • #127,369
  • Mar 19, 2009 7:41pm Mar 19, 2009 7:41pm
Quoting Forbes55
you should better try fapturbo
hahaha
  • #127,370
  • Mar 19, 2009 7:43pm Mar 19, 2009 7:43pm
THERE IS ABSOLUTLEY NO FRICKING WAY I WOULD LET ANYONE WHO IS A NOVICE AT F.F. MANAGE MY TRADING. THERE ARE A LOT OF BROKERS WHO HAVE PROFESSIONALS THAT WILL DO THE JOB FOR YOU. THEY WILL SHOW YOU PAST REPORTS ON THESE PEOPLE. BUT FOR YOU MY FRIEND, YOU MADE THE BED, NOW LAY IN IT.


Quoting chuckpumpkin
Lesson Learned - Managed Account Abu Awaad (Please comment on this trading)

Dear FF member,

I am opening this thread not to complainin nor to bring Abu Awaad down. I respected him as
a trader & Still do today but here are a few points to think about b4 you decide to invest serious money.
I have been a long time follower of the great Cable Update(GBP/USD) thread. And like all people active on
that thread read about Abu Awaad Analysis.I was impressed mind you his analysis i believe is right on the
money. N e ways so i decided to inquire about...
  • #127,371
  • Mar 19, 2009 7:44pm Mar 19, 2009 7:44pm
Quoting chuckpumpkin
hahaha
it''s not hahaha, hahaah was with your managed account!
I trading this system long ago and continue to trade!
ROBOT FOREX
  • #127,372
  • Mar 19, 2009 7:50pm Mar 19, 2009 7:50pm
Quoting Forbes55
you should better try fapturbo
sound like me at 2am after a hot mexican meal
  • #127,373
  • Mar 19, 2009 7:52pm Mar 19, 2009 7:52pm
Quoting chuckpumpkin
Lesson Learned - Managed Account Abu Awaad (Please comment on this trading)

Dear FF member,

I am opening this thread not to complainin nor to bring Abu Awaad down. I respected him as
a trader & Still do today but here are a few points to think about b4 you decide to invest serious money.
I have been a long time follower of the great Cable Update(GBP/USD) thread. And like all people active on
that thread read about Abu Awaad Analysis.I was impressed mind you his analysis i believe is right on the
money. N e ways so i decided to inquire about...

I never agreed with his analysis from the beginning. Watching his videos will all those lines, seems way too damn difficult.

And the fact that he was shorting this week blows my mind.
  • #127,374
  • Mar 19, 2009 7:58pm Mar 19, 2009 7:58pm
I didnt know anyone on this forum was allowed to advertise a business of any kind ?

Seems a lot of folk do

Lots of Bernie Madoffs about you know

Nizar seems to put a lot of work in with good presentation, but I didnt know he was managing for people...

I can lose money without any help
  • #127,375
  • Mar 19, 2009 8:06pm Mar 19, 2009 8:06pm
Dont want to ruin this thread but had to post this because i want ppl to be aware...I saw him trading my account and i wish i had lost that money i would have learn more and i have never lost 50% on 3 goddam trades. Yes
i feel like he gave his input for free and once ppl saw a good analysis well this is what his doing now of his blog copy paste:

Dear All,
This is the last day that I’m going to post my daily analysis table and signals.
After this day I’m going to post the results only,
For anyone interesting of using my information please note the following:
I open a broker account with FXCM. So I’m able now to manage the accounts, if you have account with FXCM or not.
If you are interesting please contact me on the email: &*^%%[color=#0066cc]@gmail.com[/color]
  • #127,376
  • Mar 19, 2009 8:07pm Mar 19, 2009 8:07pm
Quoting chuckpumpkin
Lesson Learned - Managed Account Abu Awaad (Please comment on this trading)

Dear FF member,

I am opening this thread not to complainin nor to bring Abu Awaad down. I respected him as
a trader & Still do today but here are a few points to think about b4 you decide to invest serious money.
I have been a long time follower of the great Cable Update(GBP/USD) thread. And like all people active on
that thread read about Abu Awaad Analysis.I was impressed mind you his analysis i believe is right on the
money. N e ways so i decided to inquire about...
WOW

this is one messed up story....sorry for your loss but I think this is the perfect example of why people need to learn to trade.

let me ask you some questions here


did you ask for performance records from this man before you gave him money to trade? were you sure they were live results? did he give you an investor password to be sure? if not then why not?

did you follow his trading for any length of time before investing this money? if not why not?

did you specify a % risk you were willing to take prior to him trading your money?

did you have detailed out all the trade specifics before giving this man money to trade?

50% in 48 hrs is crazy trading period from anyone.. Anyone else considering investing in whoever this person is should just write a check and send it to him save the stress.

I must assume that you had an agreement that any losses over a certain % would be covered by the account trader? if not then why not. a managed account should never be traded at more than 1% risk per trade at any time...no exceptions no excuses

you were screwed and I can only assume there is some kind of recourse from this? maybe a jar of vaseline at the least

LEARN TO TRADE

again whoever this person is shame on him, lets hope he is man enough to write you a check to cover these losses
Don't chase the market, Let the market come to you
  • #127,377
  • Mar 19, 2009 8:09pm Mar 19, 2009 8:09pm
Quoting Forbes55
you should better try fapturbo
LOL are you serious?
learn to trade
Don't chase the market, Let the market come to you
  • #127,378
  • Mar 19, 2009 8:10pm Mar 19, 2009 8:10pm
Man, you hit the nail on the head.



Quoting Tmac
WOW

this is one messed up story....sorry for your loss but I think this is the perfect example of why people need to learn to trade.

let me ask you some questions here


did you ask for performance records from this man before you gave him money to trade? were you sure they were live results? did he give you an investor password to be sure? if not then why not?

did you follow his trading for any length of time before investing this money? if not why not?

did you specify a % risk you were willing to take prior to him trading your money?...
  • #127,379
  • Mar 19, 2009 8:12pm Mar 19, 2009 8:12pm
Quoting Tmac
WOW

this is one messed up story....sorry for your loss but I think this is the perfect example of why people need to learn to trade.

let me ask you some questions here


did you ask for performance records from this man before you gave him money to trade? were you sure they were live results? did he give you an investor password to be sure? if not then why not?

did you follow his trading for any length of time before investing this money? if not why not?

did you specify a % risk you were willing to take prior to him trading your money?...
who is this person managing accounts and why did you even trust him to begin with??

I just dont understand how one can lose 50% in 48 hrs of anothers money
Don't chase the market, Let the market come to you
  • #127,380
  • Mar 19, 2009 8:13pm Mar 19, 2009 8:13pm
Some pointers for you.

1.4590 give or take 30 is pretty significant for now.

- It is prior resistance on 2/13 and 2/25
- It is a 50% retracement level from 1.57xx
- It is the 161.8 extension from the the most recent low and pull back on a 4 hour chart
- It is a weekly M6 pivot

I remain bullish and am looking to buy again
1,253 traders viewing now, 2 are registered:
johncen
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